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by Taner Akan (Author)
Systemic governance and institutional diffusion are explained on the basis of 'institutional complementarities'The USA case illustrates how systemic governance of a 'market-led model' first succeeded but then evolved into an an institutional trap, between efficiency and inequity, as a result of an enduring process of institutional diffusionThe South Korean case illustrates how systemic governance of a 'state-led model' first succeeded and then evolved into institutional diffusionThe Turkish case illustrates how the lack of an established systemic governance regime and the existence of enduring institutional diffusion drove the country into a long-run institutional drift between 'state-led' and 'market-led' routes and finally caused a system-wide institutional trap
Back Jacket
The common roots of success and failure in economic growth and development lie in the systemic governance and fragmentation of institutional complementarities, respectively, but not in the unilateral adaptation of market-led or state-led models. To substantiate this argument, Akan utilizes case countries from the United States, South Korea, and Turkey--an advanced developed, a recently developed, and a developing country. Akan provides a simple framework for understanding two points that go beyond ideological obsession. The first is how a model of G&D works and evolves; with its economic, financial, industrial, and political dynamics intertwining. The second is why a market-led or state-led model succeeds and fails in both developed and developing countries.
Author Biography
Taner Akan is Associate Professor of Political Economy at Istanbul University, Turkey; and Visiting Fellow, King's College London, UK. His research interests include institutional theory, political economy and economic governance.
